Letting Citizens Decide Whether to Slow Property Tax Hikes

Letting Citizens Decide Whether to Slow Property Tax Hikes

By Sen. Jim Reynolds

In 1996, Oklahomans voters had the opportunity to vote on a state question to limit their annual property tax increases to no more than five percent for residential and business property. For property owners weary of relentless increases, it seemed like a reasonable way to limit those hikes, and they voted overwhelmingly in favor of the cap.

Unfortunately, since that time many Oklahomans have discovered that their counties considered the five percent cap not as the ceiling, but as the standard. There are many who argue this is an insignificant amount, but the reality is hardly insignificant. If left unchecked, the annual five percent increase will result in the doubling of property taxes in just 15 years. They’ll increase an astonishing 400 percent by the time you pay off a new 30 year mortgage.

It is for this reason that I have authored Senate Joint Resolution 59. SJR 59 will cap the annual increase on property taxes for homesteads at the annual rate of inflation or 3 percent, whichever is lower in any given year. This is tax relief for every single Oklahoman that has chosen to establish a homestead in Oklahoma, contributing to their communities and to their state.

Opponents of my measure have made dramatic claims that this would take away money from our schools, county roads and bridges and other vital services. This is not true, and the critics know it. We are not taking a single penny of ad valorem revenues away from our schools or any other entity. They will continue to receive the property taxes they’ve gotten in the past, as well as a substantial cost of living increase, which is more than many families in our state see.

The fact is, during the last 25 years, inflation has increased at a rate of approximately 2.7 percent a year, but property taxes have increased for many at nearly twice that rate. While it is true that Oklahoma has traditionally been a low property tax state, if this legislation does not become law, that will not be the case in the future.

Unbelievably, there are many who think that Oklahoma taxpayers are not qualified to vote on this issue—as much was said by at least one member during Senate debate on SJR 59. I disagree with that view completely and believe my legislation represents a fair and reasonable resolution to let Oklahomans have their say on this issue.

The Senate approved SJR 59 and now it must be considered in the House of Representatives. Oklahomans who want an opportunity to slow the rate of property tax increases should urge their legislators to support this measure. If the House joins the Senate in approving SJR 59, the people will have the final say in November.


Sen. Jim Reynolds, R-Oklahoma City

Represents District 43